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The latest announcement is out from Vonex Limited ( (AU:VN8) ).
Vonex Limited has announced the vesting of performance rights for key executives, including CEO Ian Porter, following MaxoTel’s acquisition of over 50% of Vonex’s issued capital. The company’s Board recommends accepting MaxoTel’s takeover offer and rejecting Swoop’s conditional offer, given MaxoTel’s controlling stake. Financial results for the half-year ending December 2024 show a slight decrease in revenue but an improved EBITDA margin. The company is exploring repayment options for a $23 million debt facility due to the change of control, including potential capital raising.
More about Vonex Limited
Vonex Limited is a full-service telecommunications provider offering mobile, internet, traditional fixed lines, infrastructure solutions, and hosted PBX and VoIP services primarily to small to medium enterprises (SMEs). The company also serves wholesale customers, such as internet service providers, with access to its PBX, 5G mobile broadband, and call termination services. Vonex focuses on mergers and acquisitions within the IT and telecommunications sectors to expand its product offerings and scale.
YTD Price Performance: 2.27%
Average Trading Volume: 1,853,203
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$16.28M
Find detailed analytics on VN8 stock on TipRanks’ Stock Analysis page.
